America Movil (AMX) Benefits From Latin America Telecom Pricing Power

América Móvil SAB de CV (NYSE:AMX) ranks among the best telecom stocks to invest in. On December 11, Bank of America Securities began coverage of América Móvil SAB de CV (NYSE:AMX), rating it Neutral and setting a $26 price target on the company’s shares. The firm stated that Latin American telecommunications entered a positive period in 2023-2024, with capital expenditures relaxing following 5G investments and industry consolidation strengthening pricing power.

BofA Securities noted that improved cash generation in the industry has resulted in increased dividends for investors, a pattern that benefits telecoms companies throughout Latin America. América Móvil SAB de CV (NYSE:AMX) represents this trend, having paid dividends for the past 25 years.

Furthermore, on December 19, América Móvil SAB de CV (NYSE:AMX) strengthened its grip on broadcasting the Olympics in Latin America, maintaining rights in 16 regions in an agreement that extends through and includes the Brisbane 2032 games.

The new agreement covers events like the Winter Olympics in 2026 (Milano Cortina) and 2030 (French Alps), the Summer Olympics in 2028 (Los Angeles) and 2032 (Brisbane), and the Youth Olympic Games throughout the same time period.

América Móvil SAB de CV (NYSE:AMX) is a major Mexican telecommunications company that specializes in communications, information technology, and digital content. It is one of the largest mobile network operators in the world and it offers its products and services in 22 countries across Latin America and Europe.

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Disclosure: None. This article is originally published at Insider Monkey.